MGP Ingredients, Inc. (NASDAQ:MGPI) Shares Sold by Alberta Investment Management Corp

Alberta Investment Management Corp reduced its position in MGP Ingredients, Inc. (NASDAQ:MGPIFree Report) by 61.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 7,028 shares of the company’s stock after selling 11,064 shares during the period. Alberta Investment Management Corp’s holdings in MGP Ingredients were worth $692,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Mariner LLC boosted its holdings in shares of MGP Ingredients by 0.3% in the third quarter. Mariner LLC now owns 54,569 shares of the company’s stock valued at $5,756,000 after acquiring an additional 142 shares during the period. Cerity Partners LLC increased its stake in MGP Ingredients by 9.3% in the fourth quarter. Cerity Partners LLC now owns 2,186 shares of the company’s stock valued at $215,000 after purchasing an additional 186 shares during the period. Illinois Municipal Retirement Fund raised its holdings in shares of MGP Ingredients by 2.2% in the fourth quarter. Illinois Municipal Retirement Fund now owns 9,366 shares of the company’s stock valued at $923,000 after buying an additional 206 shares during the last quarter. Thoroughbred Financial Services LLC boosted its stake in shares of MGP Ingredients by 14.2% during the fourth quarter. Thoroughbred Financial Services LLC now owns 2,372 shares of the company’s stock worth $233,000 after buying an additional 295 shares during the period. Finally, Swiss National Bank grew its holdings in shares of MGP Ingredients by 1.0% during the third quarter. Swiss National Bank now owns 31,500 shares of the company’s stock worth $3,323,000 after buying an additional 300 shares during the last quarter. 77.11% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other MGP Ingredients news, Director Donn S. Lux sold 22,000 shares of the company’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $82.50, for a total value of $1,815,000.00. Following the sale, the director now owns 2,673,264 shares of the company’s stock, valued at $220,544,280. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other MGP Ingredients news, Director Donn S. Lux sold 10,000 shares of the firm’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $83.00, for a total transaction of $830,000.00. Following the sale, the director now directly owns 2,695,264 shares of the company’s stock, valued at approximately $223,706,912. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donn S. Lux sold 22,000 shares of the business’s stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $82.50, for a total transaction of $1,815,000.00. Following the completion of the transaction, the director now directly owns 2,673,264 shares of the company’s stock, valued at approximately $220,544,280. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 34,430 shares of company stock valued at $2,836,678. 36.20% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on MGPI shares. Roth Mkm reduced their price objective on MGP Ingredients from $95.00 to $92.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Wedbush reiterated an “outperform” rating and issued a $120.00 price objective on shares of MGP Ingredients in a research report on Monday, April 29th. Finally, StockNews.com cut shares of MGP Ingredients from a “hold” rating to a “sell” rating in a research note on Friday, April 26th.

View Our Latest Research Report on MGP Ingredients

MGP Ingredients Price Performance

MGP Ingredients stock opened at $76.02 on Tuesday. The company has a market cap of $1.67 billion, a P/E ratio of 17.56, a price-to-earnings-growth ratio of 1.14 and a beta of 0.62. MGP Ingredients, Inc. has a one year low of $74.41 and a one year high of $124.96. The business has a fifty day moving average of $80.06 and a two-hundred day moving average of $86.13. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.97 and a current ratio of 6.32.

MGP Ingredients (NASDAQ:MGPIGet Free Report) last announced its quarterly earnings data on Thursday, May 2nd. The company reported $1.07 EPS for the quarter, beating the consensus estimate of $1.00 by $0.07. MGP Ingredients had a net margin of 11.91% and a return on equity of 14.78%. The firm had revenue of $170.56 million during the quarter, compared to analysts’ expectations of $170.31 million. During the same quarter last year, the business earned $1.39 earnings per share. The business’s revenue for the quarter was down 15.1% compared to the same quarter last year. As a group, analysts predict that MGP Ingredients, Inc. will post 6.19 earnings per share for the current fiscal year.

MGP Ingredients Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 31st. Investors of record on Friday, May 17th were paid a $0.12 dividend. This represents a $0.48 annualized dividend and a yield of 0.63%. The ex-dividend date was Thursday, May 16th. MGP Ingredients’s payout ratio is currently 11.09%.

MGP Ingredients Profile

(Free Report)

MGP Ingredients, Inc, together with its subsidiaries, engages in the production and supply of distilled spirits, branded spirits, and food ingredients in the United States and internationally. The company operates through three segments: Distillery Solutions; Branded Spirits; and Ingredient Solutions.

See Also

Institutional Ownership by Quarter for MGP Ingredients (NASDAQ:MGPI)

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